SECURITIES AND EXCHANGE COMMISSION

Issuer Delisting; Order Granting the Application of Ryder System, Inc. to Withdraw its Common Stock, $.50 par value, from Listing and Registration on the Chicago Stock Exchange, Incorporated File No. 1-04364

March 30, 2005

On February 11, 2005, Ryder System, Inc., a Florida corporation ("Issuer"), filed an application with the Securities and Exchange Commission ("Commission"), pursuant to Section 12(d) of the Securities Exchange Act of 1934 ("Act")1 and Rule 12d2-2(d) thereunder,2 to withdraw its common stock, $.50 par value ("Security"), from listing and registration on the Chicago Stock Exchange, Incorporated ("CHX"). Notice of such application requesting comments was published in the FederalRegister on March 9, 2005.3 No comments were received. As discussed below, the Commission is granting the application.

The Board of Directors ("Board") of the Issuer approved a resolution on July 16, 2004 to withdraw the Security from listing on CHX. The Issuer stated that the reasons for the Board's decision to withdraw the Security from CHX are the historically modest trading activity on CHX, the annual expense, and administrative burden. The Issuer stated that the Security is listed, and will continue to list, on the New York Stock Exchange ("NYSE").

The Issuer stated in its application that it has complied with applicable rules of CHX, including Article XXVII, Rule 4, by complying with all applicable laws in effect in the State of Florida and by providing CHX with the required documents governing the removal of securities from listing and registration on CHX. The Issuer's application relates solely to the withdrawal of the Security from listing on CHX and shall not affect its continued listing on the NYSE or its obligation to be registered under Section 12(b) of the Act.4

The Commission, having considered the facts stated in the application and having due regard for the public interest and protection of investors, orders that the application be, and it hereby is, granted, effective at the opening of business on March 31, 2005.

For the Commission, by the Division of Market Regulation, pursuant to delegated authority.5